Battery recycler Li-Cycle and Peridot Acquisition filed a registration statement with the SEC in connection with their proposed $615 million business combination.
Completion of the business combination, which is expected in the second quarter, is subject to approval by Li-Cycle and Peridot stockholders. Upon closing, the combined company will be renamed Li-Cycle Holdings and will apply for a NYSE listing under LICY.
The companies said 100 percent of Li-Cycle’s existing shares will roll into the combined business. The transaction includes a fully committed, upsized $315 million PIPE from investors that include Neuberger Berman Funds, Franklin Templeton and Mubadala Capital, as well as Peridot sponsor Carnelian Energy Capital, existing Li-Cycle investor Moore Strategic Ventures and global marketing and strategic off-take partner Traxys. Read more.
